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2012 (11) TMI 393 - ITAT, AHMEDABADUnaccounted expenditure u/s 69 C - Held that:- Even though, the assessee has reasoned out in various ways but he has not produced the actual and accurate working for the valuation of work in progress - further, to justify the assessee’s claim that it has valued the work in progress on the basis of market value the assessee has not submitted any valuation report. Therefore, the decision of the cases relied upon by the assessee are not applicable to its facts of the case. Looking at the complexity of the issue & on an overall examination of the facts an addition of Rs.30,00,000/- as against Rs.61,44,189/- done by CIT(A) requires to be sustained to meet the end of justice - partly in favour of assessee.
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